Oak Asset Management LLC trimmed its holdings in shares of JPMorgan Chase & Co. (NYSE:JPM) by 0.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,580 shares of the financial services provider’s stock after selling 124 shares during the quarter. Oak Asset Management LLC’s holdings in JPMorgan Chase & Co. were worth $2,551,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Twin Lakes Capital Management LLC grew its position in JPMorgan Chase & Co. by 0.5% during the fourth quarter. Twin Lakes Capital Management LLC now owns 13,786 shares of the financial services provider’s stock worth $1,849,000 after buying an additional 71 shares in the last quarter. Karpas Strategies LLC lifted its stake in JPMorgan Chase & Co. by 0.3% during the fourth quarter. Karpas Strategies LLC now owns 21,608 shares of the financial services provider’s stock worth $2,898,000 after purchasing an additional 71 shares during the last quarter. Oxler Private Wealth LLC lifted its stake in JPMorgan Chase & Co. by 0.9% during the fourth quarter. Oxler Private Wealth LLC now owns 8,158 shares of the financial services provider’s stock worth $1,094,000 after purchasing an additional 71 shares during the last quarter. Sanford Advisory Services LLC lifted its stake in JPMorgan Chase & Co. by 2.4% during the fourth quarter. Sanford Advisory Services LLC now owns 3,176 shares of the financial services provider’s stock worth $426,000 after purchasing an additional 73 shares during the last quarter. Finally, Gould Asset Management LLC CA lifted its stake in JPMorgan Chase & Co. by 1.2% during the fourth quarter. Gould Asset Management LLC CA now owns 6,580 shares of the financial services provider’s stock worth $882,000 after purchasing an additional 75 shares during the last quarter. 70.10% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
JPM has been the subject of several research analyst reports. Royal Bank of Canada dropped their price target on JPMorgan Chase & Co. from $150.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, March 24th. Bank of America lifted their price target on JPMorgan Chase & Co. from $152.00 to $158.00 and gave the stock a “buy” rating in a research note on Monday, April 17th. Morgan Stanley boosted their target price on JPMorgan Chase & Co. from $157.00 to $160.00 in a research note on Tuesday, May 23rd. StockNews.com began coverage on JPMorgan Chase & Co. in a research note on Thursday, May 18th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group boosted their target price on JPMorgan Chase & Co. from $160.00 to $172.00 in a research note on Friday, April 14th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, JPMorgan Chase & Co. currently has a consensus rating of “Moderate Buy” and an average price target of $157.35.
JPMorgan Chase & Co. Stock Performance
JPMorgan Chase & Co. (NYSE:JPM – Free Report) last posted its quarterly earnings results on Friday, April 14th. The financial services provider reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.41 by $0.69. The company had revenue of $38.35 billion for the quarter, compared to the consensus estimate of $35.77 billion. JPMorgan Chase & Co. had a return on equity of 16.02% and a net margin of 23.73%. The firm’s quarterly revenue was up 24.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.63 EPS. On average, equities research analysts predict that JPMorgan Chase & Co. will post 14.43 earnings per share for the current fiscal year.
JPMorgan Chase & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Thursday, July 6th will be given a $1.00 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $4.00 annualized dividend and a yield of 2.89%. JPMorgan Chase & Co.’s dividend payout ratio (DPR) is presently 29.52%.
Insider Activity at JPMorgan Chase & Co.
In related news, Vice Chairman Peter Scher sold 1,240 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $135.02, for a total value of $167,424.80. Following the transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Vice Chairman Peter Scher sold 1,240 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $135.02, for a total transaction of $167,424.80. Following the transaction, the insider now directly owns 45,056 shares of the company’s stock, valued at approximately $6,083,461.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Daniel E. Pinto sold 113,640 shares of the stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $135.93, for a total value of $15,447,085.20. Following the transaction, the chief executive officer now directly owns 566,665 shares in the company, valued at $77,026,773.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,861 shares of company stock valued at $19,858,275. 0.79% of the stock is owned by corporate insiders.
About JPMorgan Chase & Co.
JPMorgan Chase & Co operates as a financial services company worldwide. It operates through four segments: Consumer & Community Banking (CCB), Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset & Wealth Management (AWM). The CCB segment offers deposit, investment and lending products, cash management, and payments and services to consumers and small businesses; mortgage origination and servicing activities; residential mortgages and home equity loans; and credit cards, auto loans, leases, and travel services.
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